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Rinehart Building 3037 N Williams Ave 9 Unit Apartment Building $2,224,000 ($247,111/Unit) 7.10% Cap Rate Portland, OR 97227

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Investment Highlights

100% occupied and seismically upgraded
Below average rents offer updside
7,910 ADT, 92 Walk Score, 100 Bike Score

Two commercial units, seven residential units
Potential billboard income on northbound traffic facing wall
Ample street parking and easy transportation access

Executive Summary

Mixed-use multifamily asset holds two buildings on a single tax lot comprised of two commercial units and a total of seven apartments. The Rinehart Building on the corner of N. Williams & N. Monroe, is 100% occupied and includes office and retail storefront suites and five 1bd/1ba apartments on the 2nd level. This historical building underwent complete renovation in 2014 with seismic upgrades. The Monroe Building, a 2014 new build duplex, is 100% occupied and encompasses a 1bd/1ba & a 2bd/1.5ba apartment with rooftop terrace. The buildings share secure garbage/recycling, storage and bike room access.

Rinehart Flyer_compressed

Property Facts

Price	$2,224,000	Building Class	C
Price Per Unit	$247,111	Lot Size	0.11 AC
Sale Type	Investment	Building Size	13,362 SF
Cap Rate	7.10%	Average Occupancy	100%
No. Units	9	No. Stories	3
Property Type	Multifamily	Year Built/Renovated	1911/2014
Property Subtype	Apartment General Retail Storefront Retail/Residential Office Office Residential
Zoning	CM3 - The CM3 zone is a large-scale, commercial mixed use zone intended for sites close to the Central City, in high-capacity transit station areas or town.

Price	$2,224,000
Price Per Unit	$247,111
Sale Type	Investment
Cap Rate	7.10%
No. Units	9
Property Type	Multifamily
Property Subtype	Apartment General Retail Storefront Retail/Residential Office Office Residential
Building Class	C
Lot Size	0.11 AC
Building Size	13,362 SF
Average Occupancy	100%
No. Stories	3
Year Built/Renovated	1911/2014
Zoning	CM3 - The CM3 zone is a large-scale, commercial mixed use zone intended for sites close to the Central City, in high-capacity transit station areas or town.